Online Threshers remains offline

23 March, 2012

Plans for a new online Threshers wine business have still not come to fruition, almost two-and-a-half years after First Quench went into administration.

The company which bought the domain name said at the time it would be trading a transactional online business within six weeks.

The site currently consists solely of a holding home page with the contact details of Dudley-based SEP Properties.

The company bought the domain name along with the Threshers, Bottoms Up, Victoria Wine and The Local brand names from First Quench administrator KPMG, but none of these have yet reappeared on the high street, despite SEP declaring at the time that it saw them as ripe for a franchise operation.

Latest SEP accounts for the year to March 31, 2011, filed at Companies House, state that “these trade names add significant value to the investment portfolio and give the company the opportunity to derive future income from their use”. 

The statement appears under the heading “future developments” and is a word-for-word repeat of the previous year’s accounts.

It is not clear whether SEP sees the future income from trading the names or selling them on.

Chief executive Engrez Sanghera was unavailable to comment.

The accounts show that pre-tax profits for SEP – primarily a property rental business – increased marginally from £1.9 million in 2010 to £2.1 million.

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